Page:United States Statutes at Large Volume 122.djvu/3378

 12 2 STA T .3 3 5 5 PUBLIC LA W 11 0– 315 — AU G .1 4, 200 8‘ ‘ (8)acquis i t i on o fre a lp ropert y t h atisa dj acent to the ca m pus in connection w ith the construction , reno v ation, or improvement of, or an addition to, campus facilities ‘‘( 9 ) education or financial information desi g ned to improve the financial literacy and economic literacy of students or the students ’ families, especially with regard to student inde b ted - ness and student assistance programs under title IV ‘‘( 10 ) tutoring, counseling, and student service programs designed to improve academic success; ‘‘(11) faculty professional development, faculty e x changes, and faculty participation in professional conferences and meetings; and ‘‘(1 2 ) other activities proposed in the application submitted under subsection (c) that — ‘‘( A ) contribute to carrying out the purposes of this section; and ‘‘( B ) are approved by the S ecretary as part of the review and acceptance of such application . ‘‘(e) I NTERAC T IO N W IT HO THER G RANT P RO G RA MS .— N o institu- tion that is eligible for and receives an award under section 3 2 6, 5 12, or 7 23 for a fiscal year shall be eligible to apply for a grant, or receive grant funds, under this section for the same fiscal year. ‘‘(f) FU N D ING R U L E.—Subject to subsection (g), of the amount appropriated to carry out this section for any fiscal year— ‘‘(1) the first $ 2,500,000 (or any lesser amount appro- priated) shall be available only for the purposes of ma k ing minimum grants under subsection (a)(3) to eligible institutions listed in subparagraphs (A) through ( E ) of subsection (b)(1), except that if the amount appropriated is not sufficient to pay the minimum grant awards to all such eligible institutions, the amount of the minimum award to each such eligible institu- tion shall be ratably reduced; ‘‘(2) after the application of paragraph (1), an amount shall be available for the purpose of making minimum grants under subsection (a)(3) to eligible institutions described in subsection (b)(1) that do not receive a grant under paragraph (1), if any, except that if the amount appropriated is not sufficient to pay the minimum grant awards to all such eligible institutions, the amount of the minimum award to each such eligible institu- tion shall be ratably reduced; and ‘‘(3) any amount in excess of $2,500,000 shall be made available to each of the eligible institutions identified in sub- paragraphs (A) through (E) of subsection (b)(1), pursuant to a formula developed by the Secretary that uses the following elements

‘‘(A) T he ability of the institution to match Federal funds with non-Federal funds. ‘‘(B) The number of students enrolled in the qualified masters degree program at the eligible institution in the previous academic year. ‘‘( C ) The average cost of attendance per student, for all full-time students enrolled in the qualified masters degree program at such institution. ‘‘( D ) The number of students in the previous year who received a degree in the qualified masters degree program at such institution.

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